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Whatever indicator you want, the market manipulators can draw it for you. You want an indicator showing a breakout above MA120? Here you go. You want an indicator showing a breakout above MA250? Sure, take it. Based on past bull market patterns, it does look like the bull is back. But is it really that simple? Are the market manipulators playing games here? There are a few points I’m skeptical about: First, at the start of a bull market, there’s always deep deleveraging. That hasn’t happened yet. (Not deleveraging is like trying to climb a mountain while carrying a motorcycle.) Second, at the start of a bull market, there’s always heavy accumulation in the spot market. Haven’t seen that yet either. Third, at the start of a bull market, it’s usually $BTC leading the rally. Right now, $ETH feels more like $BTC. Every time there’s a rebound, $ETH moves first, leading the charge. (This shows the market is thirsty for capital, and retail investors are desperate for a big pump.) Lastly, the adjustment period isn’t over yet. Timing is everything. I’ll keep watching for a few more days or weeks. No rush.
